The topic of investing and trading is one of the most popular topics in personal financial management. The allure of making deals and capturing profits based on sound fundamental analysis and technical understanding (and maybe a bit of luck) has regularly caught the eye of would-be traders looking to up their income.
You have many options for financial strategies and products, making managing your position more difficult. This can make it more difficult to manage your performance and keep up with the rapid market changes.
Profit.ly aims to mitigate the discrepancies of skill between pro and amateur traders by opening communication channels between the two and creating an open sharing community on the best (and worst) trades on the market.
This article will discuss the systems that make up the Profit.ly platform, their “Guru” system, the pricing behind their services, and our overall impression of how Profit.ly does as a trading resource.
Before you continue, you may want to check out this video by Mr. Longevity on YouTube that gives a quick review. Afterward, you will want to read the rest of the article for a more comprehensive review of Profit.ly.
Profit.ly Features Etrade Pro Scanner For Tim Sykes
Trading can be difficult. This is something that both professionals and novices have learned throughout their careers. However, this doesn’t mean you shouldn’t be able to get help from others. Profit.ly allows traders to share information about viable trades and price movements, without having to worry about their anonymity.
Profit.ly is a way to socially trade in a new innovative way. It features mentors, groups and leaderboards that show who is doing the best deals and which strategy. Profit.ly is a combination of the social nature of Facebook and the competitive nature of your favorite arcade game.
Profit.ly is not just a forum for traders to discuss their strategies. Profit.ly memberships include performance trackers that allow you to monitor the progress of your deals and see how each sale affects your overall portfolio. The platform’s trades are primarily short-term swings and intra-day trading. This can cause jitters, but it is where the action is. Profit.ly helps you by managing the data and showing you your deal performance in real-time.
Profit.ly can give you insights into many critical aspects of your trading routine, including:
- Total Running Net Profit
- Gross Profit
- Trade Volume
- Gain/Loss Percentages
- Average Gains/losses
- And much more.
Now some of these may be included in your standard brokerage account suite of tools. However, suppose you’re running several brokerage accounts or want to manage several accounts on different platforms. In that case, Profit.ly can provide a singular source to collate and view your overall performance on a macro-level. Want to know which part of your overall portfolio is generating too much risk? Which one is the best performer? Profit.ly’s deal tracker makes a great daily trading companion.
Trade Leaderboard and Deal Verification
Your trade performance doesn’t have to be limited to your isolated enjoyment. Their trade leaderboards help bring the joy of a community experience to the ordinarily tricky process of maintaining and monitoring your portfolio performance.
Profit.ly allows you to view the top performing dealers who have shared their deal metrics and can even see the trading strategies they use in their shared posts. If you happen to be the top dealer, you can also share any materials and links to deal tactics that you might’ve found helpful in your career. Helping one person may be a way to benefit you in the future. Sharing is the key here.
You also get the benefit of sharing your losses with other users experiencing a trade loss. Always better to share your grief in life and finances.
Profit.ly also includes an automatic authentication system within their user portals so you can easily sync up your brokerage accounts with your Profit.ly profile. Profit.ly even offers a funny demerit system, called “Maddoff-ed”, after the infamous Bernie Maddoff’s Ponzi-hedge fund. Any user can designate any other user that fails to authenticate deals using a Madoff tag. Ironically, there’s even a “leaderboard” of Madoff-related users.
This leaderboard and more positive leaderboards consisting of the highest-earning users are available to members of the Profit.ly platform. This is a handy resource for users looking to see whom to follow (and not to follow) regarding trade management and marketing. You can filter the leaderboards and your account based on specific terms to gain a better understanding of your account.
Keep up with other traders
It’s easy to network with anyone you like, expanding your industry contacts and lending your trading expertise to others. Shoot them a private message or post on their wall to start interacting with Profit.ly’s community of traders.
Profit.ly allows you to follow the trades of other traders in real time. You can track as many traders as you want and create a curated feed of your favorite traders, so you never miss out on a good deal.
Your profile can be curated to highlight the items that you would like other traders to see. You can create a small group to help you strategize with traders.
But maybe all this socializing isn’t necessarily up to your speed. Sure, other traders help build new trading strategies, but perhaps you don’t want your deals to be spread throughout the platform for everyone to scrutinize. Not to worry, Profit.ly comes with tools and options to fully privatize your profile so that you can keep your information and your trades viewable to you and you alone.
Profit.ly Package Pricing
As with many online services nowadays, Profit.ly has both a free plan and tiered paid plans that you can subscribe to, each tier conferring different benefits at subsequently higher prices.
First off, know that you don’t need to pay a single cent to join Profit.ly’s social trading platform. They have a simple set-up procedure to allow you to participate using just your email and your chosen screen name. You can start to enjoy limited privileges as a Profit.ly member by confirming your email via the registration email. These benefits include:
- importing trades from a brokerage account
- View account data and reportage
- Check out your rank in the Leaderboards
- View the blog and other community posts
You should be aware that you might not have access to certain features paid Profit.ly users enjoy.
This accessible account option is still a great choice for traders who want to join a trading community and begin their trading journey.
You can upgrade to the Novice Package for $29.95 per month if you are interested. Not only does it include all the features of the free account as stated above, but it also allows you to verify and track trades across the community and comment on user profiles and posts. Profit.ly allows you to follow other traders and communicate more effectively with them using the full chat suite. You can also view trader stats and see their performance in particular deals or portfolios.
Trading is serious business. You may be aware that it is important to keep certain positions secret if you are serious about trading. When you divulge your work to the broader market, you may start seeing it move against you. You may be in a position that is sufficiently significant to be made public that you can expect to suffer a series of losses.
The Trader package, which comes in at $49.95 a month in fees, allows you to create a private profile, which in itself is its community of traders who willingly share information across other personal profiles; a sign of an experienced trader who holds their cards close to their chest. This way, you can keep your deals and their subsequent gains/losses private to you and you alone.
The Trader package includes all of the features in the Novice and Free packages. However, there is one important exception: you can view other stats. Due to the focus on individual trade performance, the trader package forgoes the ability to view other trader’s versions to keep their profile hidden from the users on the platform.
There will be those who look at the three previous packages and wonder whether there is a more comprehensive model that gives you full control over the site’s advanced features.
This model is called Profit.ly’s Pro Package, which comes at a sizable $74.95 a month, though there is a 22% discount available for those who are willing to pay the fees in bulk for an annual subscription plan.
Please think of the Pro Package as a synergy of all the features found in the Novice and Trader packages: you get to continue to view user statistics while allowing yourself the option of privacy in the moments when you need it most.
This package is reserved only for the most serious traders and users who have the financial means to subscribe to the plan.
The Guru System is a unique part of the ecosystem that makes up the Profit.ly platform. Profit.ly is a social trading platform that focuses on the market, but it also offers a resource center where traders can learn about tips and tricks to improve their performance in the markets.
There are many resources that will teach you how trades work (which can also be found on Profit.ly), but the Guru System is more practical and allows you to learn directly from traders who have been in the business for a while, such as Profit.ly founder Tim Sykes.
You can subscribe to the Guru system separately from the other membership packages. It gives you access to real-world tips and insights on the market, how to get the most out of current trends, and where it is. The Guru’s available change with time, so currently, you have two available experts you can subscribe to, Tim Sykes or Paul Scolardi.
Guru 1: Tim Sykes
Tim Sykes is the most well-known name on the site. He has been a successful trader in penny stock markets and has made a name of himself. His students have made $16million through the trades they mentored, according to data on the site. Etrade Pro Scanner For Tim Sykes
Tim offers his mentoring in two distinct packages: Tim’s Alerts and Pennystocking Silver. Tim’s Alerts gives you access to his chat room, where you can communicate with him and his students. You also have the option to add up to 10 stocks to your curated watchlist. You can opt-in to receive push notifications and SMS via your smartphone. These notifications will alert you about any important trades that you are watching. This plan comes at $74.95 per month, a whole separate subscription from the Profit.ly tiered membership packages. Etrade Pro Scanner For Tim Sykes
The more aggressive mentoring program Pennystocking silver is available for $149.95 per month. The Guru package contains all of the features in Tim’s Alerts, but also includes his archive of approximately 7000+ trading lessons and weekly updates.
You can subscribe to both packages on a monthly basis but get a discount of around 20% if you subscribe each year. Etrade Pro Scanner For Tim Sykes
Guru 2: Paul Scolardi aka Superman
You can expect great things from Superman and other nicknames that will help you trade better and understand the market. Paul Scolardi is a veteran small-cap swing trader who proudly wears the name. He specializes in finding explosive potential using market signals and is able to profit big from incoming swings. That’s a “Superman” power in terms of market understanding if there ever was such a thing.
Like Tim, Paul has two options available for subscription: Superman Alerts and Superman Pro. Superman Alerts works in the same way as Tim Sykes’ alerts package, but costs $147 per month. Superman Pro is similar to the Tim Sykes package, but it gives you access to Paul’s entire video library and research reports. It also includes a handy IPO tracker that allows you to play the IPO-pops associated with new listings. This Pro package comes in at $247 a month in fees. Etrade Pro Scanner For Tim Sykes
Profit.ly is not the next Facebook. However, it may be a good choice as it focuses only on one niche and allows its users the freedom to trade and interact with the community. The site is simple to use, and you can check out the blog tab for similar topics submitted by users. Etrade Pro Scanner For Tim Sykes
This is not a platform that guarantees “get rich quick”, but rather a social platform for traders to learn from one another and better understand the ever-changing financial markets. Try it out with their free plan, and if you like the platform, you can easily subscribe to some of the lower-tier intends to see what more you can do with the platform. It’s necessary to temper your expectations with what the platform can do for you financially, but you may learn a thing or two on the way to becoming a better trader altogether.
Most Frequently Asked Questions Etrade Pro Scanner For Tim Sykes
Is Profit.ly a waste of money?
As we mentioned above, Profit.ly has several membership options, with one being a free account and most requiring a paid subscription of some sort. Profit.ly offers several membership options. While you can do a lot with a free account. However, the majority of their more powerful systems require a paid subscription.
How do I Open a Profit.ly account?
You can open a Profit.ly account in a matter of seconds as it is free to join the platform and start building your profile. All you need to do is set up your account like any other social media platform and confirm the legitimacy of your email by verifying it through a registration email they will send you.
For Profit.ly’s paid subscriptions, you will need to have a valid payment method and submit your details on their secure online order form.
How Do I Cancel My Subscription?
You can cancel your subscription at any time and for any reason through the accounts management page. Click your profile image at the top right corner of the screen and click settings. In the settings tab, you can see an option to manage your current subscriptions. Click the subscription you want to change and click cancel.
Support@profit.ly can be reached at 205-851-0506 if you have other questions. You can also use the support button tab on every page on the Profit.ly website or submit an easy-to-fill-out web form.
Who is Tim Sykes, you ask?
Tim Sykes, the man behind Profit.ly has been controversial due to his penchant for penny stocks, aggressive marketing style and his brazen persona. But his deals are legitimate, and his type of trading has profited him now and then.
He has had his share of losses, just like any trader. However, Tim Sykes is open to learning from these losses and sharing his knowledge with Profit.ly.